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Quarterly Financial Information (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information (Unaudited)
NOTE 21: QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
(in thousands, except per share data)
 
2016
 
Quarters
 
Total
 
First
 
Second
 
Third
 
Fourth
 
Operating Revenues
 
 
 
 
 
 
 
 
 
Television and Entertainment
$
455,875

 
$
468,134

 
$
460,164

 
$
525,723

 
$
1,909,896

Other
12,597

 
11,662

 
9,874

 
3,901

 
38,034

Total operating revenues
$
468,472

 
$
479,796

 
$
470,038

 
$
529,624

 
$
1,947,930

Operating Profit (Loss)
 
 
 
 
 
 
 
 
 
Television and Entertainment
$
58,605

 
$
83,346

 
$
46,024

 
$
136,862

 
$
324,837

Corporate and Other
(28,613
)
 
(27,140
)
 
188,146

 
(23,656
)
 
108,737

Total operating profit
29,992

 
56,206

 
234,170

 
113,206

 
433,574

Income on equity investments, net
38,252

 
44,306

 
31,737

 
33,861

 
148,156

Interest and dividend income
132

 
228

 
476

 
390

 
1,226

Interest expense
(38,141
)
 
(38,071
)
 
(38,296
)
 
(38,211
)
 
(152,719
)
Other non-operating gain (loss), net (1)
496

 
(75
)
 
57

 
4,949

 
5,427

Reorganization items, net (2)
(434
)
 
(366
)
 
(434
)
 
(188
)
 
(1,422
)
Income from Continuing Operations Before Income Taxes
30,297

 
62,228

 
227,710

 
114,007

 
434,242

Income tax expense
15,195

 
214,856

 
73,871

 
43,280

 
347,202

Income (Loss) from Continuing Operations
15,102

 
(152,628
)
 
153,839

 
70,727

 
87,040

Loss from Discontinued Operations, net of taxes
(4,009
)
 
(8,935
)
 
(8,074
)
 
(51,776
)
 
(72,794
)
Net Income (Loss)
$
11,093

 
$
(161,563
)
 
$
145,765

 
$
18,951

 
$
14,246

 
 
 
 
 
 
 
 
 
 
Basic Earnings (Loss) Per Common Share from:
 
 
 
 
 
 
 
 
 
Continuing Operations
$
0.16

 
$
(1.66
)
 
$
1.71

 
$
0.81

 
$
0.96

Discontinued Operations
(0.04
)
 
(0.10
)
 
(0.09
)
 
(0.59
)
 
(0.80
)
Net Earnings (Loss) Per Common Share
$
0.12

 
$
(1.76
)
 
$
1.62

 
$
0.22

 
$
0.16

 
 
 
 
 
 
 
 
 
 
Diluted Earnings (Loss) Per Common Share from:
 
 
 
 
 
 
 
 
 
Continuing Operations
$
0.16

 
$
(1.66
)
 
$
1.70

 
$
0.81

 
$
0.96

Discontinued Operations
(0.04
)
 
(0.10
)
 
(0.09
)
 
(0.59
)
 
(0.80
)
Net Earnings (Loss) Per Common Share
$
0.12

 
$
(1.76
)
 
$
1.61

 
$
0.22

 
$
0.16

 
2015
 
Quarters
 
Total
 
First
 
Second
 
Third
 
Fourth
 
Operating Revenues
 
 
 
 
 
 
 
 
 
Television and Entertainment
$
410,300

 
$
446,107

 
$
430,610

 
$
465,525

 
$
1,752,542

Other
12,267

 
12,309

 
12,365

 
12,484

 
49,425

Total operating revenues
$
422,567

 
$
458,416

 
$
442,975

 
$
478,009

 
$
1,801,967

Operating Profit (Loss)
 
 
 
 
 
 
 
 
 
Television and Entertainment
$
79,348

 
$
47,060

 
$
63,696

 
$
(365,244
)
 
$
(175,140
)
Corporate and Other
(21,941
)
 
(21,912
)
 
(18,660
)
 
(31,682
)
 
(94,195
)
Total operating profit (loss)
57,407

 
25,148

 
45,036

 
(396,926
)
 
(269,335
)
Income on equity investments, net
36,934

 
45,913

 
36,987

 
27,125

 
146,959

Interest and dividend income
326

 
—

 
148

 
246

 
720

Interest expense
(35,140
)
 
(36,315
)
 
(38,659
)
 
(38,473
)
 
(148,587
)
Loss on extinguishment of debt
—

 
(37,040
)
 
—

 
—

 
(37,040
)
Gain on investment transactions, net (1)
687

 
8,133

 
3,250

 
103

 
12,173

Other non-operating gain, net (1)
—

 
209

 
1,396

 
5,623

 
7,228

Reorganization items, net (2)
(992
)
 
(628
)
 
188

 
(105
)
 
(1,537
)
Income (Loss) from Continuing Operations Before Income Taxes
59,222

 
5,420

 
48,346

 
(402,407
)
 
(289,419
)
Income tax expense (benefit)
22,613

 
2,624

 
14,510

 
(13,829
)
 
25,918

Income (Loss) from Continuing Operations
36,609

 
2,796

 
33,836

 
(388,578
)
 
(315,337
)
(Loss) Income from Discontinued Operations, net of taxes
(192
)
 
(6,061
)
 
(5,978
)
 
7,650

 
(4,581
)
Net Income (Loss)
$
36,417

 
$
(3,265
)
 
$
27,858

 
$
(380,928
)
 
$
(319,918
)
 
 
 
 
 
 
 
 
 
 
Basic Earnings (Loss) Per Common Share from:
 
 
 
 
 
 
 
 
 
Continuing Operations
$
0.37

 
$
0.03

 
$
0.35

 
$
(4.15
)
 
$
(3.33
)
Discontinued Operations
0.00

 
(0.07
)
 
(0.06
)
 
0.08

 
(0.05
)
Net Earnings (Loss) Per Common Share
$
0.37

 
$
(0.04
)
 
$
0.29

 
$
(4.07
)
 
$
(3.38
)
 
 
 
 
 
 
 
 
 
 
Diluted Earnings (Loss) Per Common Share from:
 
 
 
 
 
 
 
 
 
Continuing Operations
$
0.37

 
$
0.03

 
$
0.35

 
$
(4.15
)
 
$
(3.33
)
Discontinued Operations
0.00

 
(0.07
)
 
(0.06
)
 
0.08

 
(0.05
)
Net Earnings (Loss) Per Common Share
$
0.37


$
(0.04
)

$
0.29


$
(4.07
)

$
(3.38
)
 
(1) See Note 5 to the Company’s consolidated financial statements for information pertaining to non-operating items recorded in 2016 and 2015.
(2) See Note 3 to the Company’s consolidated financial statements for information pertaining to reorganization items recorded in 2016 and 2015.